That's 27 percent more than Snyder's shares were worth last Wednesday, Dec. 13, the day before media reports about a possible purchase of the snack maker first surfaced.

In a joint statement Snyder's President and CEO Brian Driscoll said: "Following a thorough review process of strategic options, we believe this transaction maximizes value for our shareholders through an immediate and certain cash premium."

Campbell's President and CEO Denise Morrison added that the acquisition of Snyder's "will provide our consumers with an even greater variety of better-for-you snacks."

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Charlotte-based snack-maker Snyder's Lance may be for sale, after it reportedly was approached by a potential buyer. CNBC reported Thursday that the company has hired an investment bank to study a possible sale.